Here are the key factors to keep in mind today for US Dollar trades:
- US ADP Employment Change: The US ADP Employment Change for December is predicted at 180K. Forex traders can compare this to the US ADP Employment Change for November which was reported at 179K.
- US Initial Jobless Claims and Continuing Claims: US Initial Jobless Claims for the week of December 29th are predicted at 220K and US Continuing Claims for the week of December 22nd are predicted at 1,689K. Forex traders can compare this to US Initial Jobless Claims for the week of December 22nd which were reported at 216K and to US Continuing Claims for the week of December 15th which were reported at 1,701K.
- US Construction Spending: US Construction Spending for November is predicted to increase by 0.2% monthly. Forex traders can compare this to US Construction Spending for October which decreased by 0.1% monthly.
- US ISM Manufacturing Index: The US ISM Manufacturing Index for December is predicted at 57.5. Forex traders can compare this to the US ISM Manufacturing Index for November which was reported at 59.3. ISM Prices Paid for December are predicted at 57.7. Forex traders can compare this to ISM Prices Paid for November which were reported at 60.7. ISM Employment for December is predicted at 56.2. Forex traders can compare this to ISM Employment for November which were reported at 58.4.
Here is the key factor to keep in mind today for Swiss Franc trades:
- Swiss Manufacturing PMI: The Swiss Manufacturing PMI for December is predicted at 56.9. Forex traders can compare this to the Swiss Manufacturing PMI for November which was reported at 57.7.
Should price action for the USDCHF remain inside the or breakdown below the 0.9830 to 0.9875 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.9855
- Take Profit Zone: 0.9540 – 0.9575
- Stop Loss Level: 0.9960
Should price action for the USDCHF breakout above 0.9875 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.9900
- Take Profit Zone: 1.0095 – 1.0125
- Stop Loss Level: 0.9855
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
